Heterodox influences on Schumpeter

Abstract

Purpose

Joseph Alois Schumpeter's ideas are in the discussion agenda of various economists working in different theoretical traditions. However, several aspects of his work remain unexplored. In particular, the origin of his ideas in the context of the then prevalent economic theories of the German‐speaking camp, have not been widely discussed. The purpose of this paper is claim that the elaborations of certain German‐speaking heterodox economists and/or schools of economic thought may be traced in Schumpeter's oeuvre.

Design/methodology/approach

The influence of the German Historical School and specifically of Gustav von Schmoller, Max Weber and Werner Sombart on typical Schumpeterian themes is examined. In a similar vein, it is argued that Schumpeter's analysis presents striking similarities with the works of the Austro‐Marxist Economist Rudolf‐Hilferding and the Austrian Social Democrat Emil Lederer.

Findings

In this context, certain Schumpeterian insights appear less original.

Originality/value

Conclusively, it may be inferred that a deeper understanding of Schumpeterian economic analysis presupposes an acquaintance with certain heterodox theoretical traditions of the German‐speaking world.

Citation

Michaelides, P.G., Milios, J.G., Vouldis, A. and Lapatsioras, S. (2010), "Heterodox influences on Schumpeter", International Journal of Social Economics, Vol. 37 No. 3, pp. 197-213. https://doi.org/10.1108/03068291011018767